GardaWorld

GardaWorld International Protective Services, the international division of the company, began operations in 1984. GardaWorld Security Corporation was established as Trans-Québec Security Inc. by Stephan Crétier in 1995, who invested initially $25,000. The company runs physical security guard services and armoured car services globally. During the mid-2000s, GardaWorld had a number of acquisitions, the one of which was a $391 million deal for the US security-oriented firm ATI Systems International, in which GardaWorld ended up suing ATI's former CEO for allegedly misrepresenting its financial situation, while the CEO sued for wrongful dismissal. In January 2006, Vance International was purchased from SPX Corporation. In December 2006, Kroll Security International was purchased from Kroll. On June 3, 2009, GardaWorld announced the sale of its U.S. and Mexico guarding operations to Andrews International for US$44.25 million, following a particularly poor financial performance the previous year; in mid-2008, GardaWorld's stock fell by more than 90%. Debt restructuring followed and the company was left afloat, but looking weak in the eyes of its investors.